An Israeli investor seized Culter Bay Town Center in southern Miami-Dade County with the help of U.S. Century Bank.

MS Shopping Center LLC used a $26.9 million deed in lieu of foreclosure to take control of the 110,240-square-foot shopping center at 20811 S. Dixie Highway from Fraga CR LLC. As previously reported, MS Shopping Center acquired the mortgage from Doral-based U.S. Century Bank, which had filed the foreclosure lawsuit.

U.S. Century Bank provided a $10.7 million mortgage to MS Shopping Center for the purchase of the loan and assumption of the property. While the managing member of the borrower is Mordechai Boaziz, who heads other LLCs that are facing foreclosure lawsuits and Chapter 11 filings, it appears the company is also connected to Michael Shina, a native of Israel who heads Exquisite Apparel in New York City.

U.S. Century Bank, which is “undercapitalized” is trying to sell all of its problem loans before it closes a pending deal to be recapitalized by local investors.